1924-04-22 — Page 3

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SOLE AGENTS FOR HONGKONG AND SOUTH CHINA:

THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.

Tol. Central 338.

ABDULLA

TURKISH

---

THE HONGKONG DAILY PRESS, TUESDAY, APRIL 22ND, 1924

FOREIGN CONCESSIONS IN RUSSIA,

HOSTA NEWS AGENCY-]

The Chief Concessions Committee has now heen in existence for two years, The preliminary report of its nativities during this period illustrates the grow ing: confidence af foreign invistors la the Stability of the Soviet Government, and the influance of trade agreements and recognition on the work of foreign capit. alists in Rusia, as well as the variety of the fields of exploitation provatel be Russia..

The number of concesions actually gran- ted since 1991 is as follows:

No. of Coneyssions.

*3, Queon's Buildings,

1921. 1922

41

CIGARETTES

EGYPTIAN

VIRGINIA

Weshare and Received a New Shipmentál the Abdulla Cigaretov and Sell at Sul Prices us follows

No. 1 Turkish

·TAPAK VALUES. SPECIAL PACES.

50's

$2.75

$2.40

No. 5

do.

50's

2.25

2.00

No. 11

do.

50's

1.90

1.75

No. 14 Edyptian

50's

2.00

1.80

No. 18 do.

50's

1.80

1.50

No. 28

do. (Gold Tip)

50's

1.50

1.25

No. 1 Virginia

50's

1.00

0.80

No. 75

do.

60's

1.25

1:00

No. 7

do.

50's

1.10

0,90

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These liguns do not include nins age: ments concluded with the consist of the Chief Concessions Committee for the form ation of joint stock companies, in which Government expitali participated.

Now only, however, has the number of concrasion agreements increased but those concluded recently have been considerably larger and more important Krapps, for instance, have bent

granted the right to devalap 67,300 acres in the Donets region, and the German Eastern Trade Company madertook in September, 192, to spend 7-12 million gold roubles in the construc- jon of the Mga-Moscow railway line.

The fifty-nine concessions may be classi- fed as follows:-

Production Raw raterials or

manufactures)

Trading

Transport

Permission to foreign firms to

trade in, Bussin

Agrientare

Tinker

Hunting and fishing

Total

14.

10

59

During the two ander review, 1,000 applications for concessions have be passed on to the Chief Concessions Com- mitten by the local committees abroad. Of the propositions 33 per cent. nie from Germany, 13 per cent. from Great Britain, 10 per cent from France, and 9 per cont. from the United States, the rest being divided among about twenty other coun- trim.

The amber of applications has increas ed very considerably, as the following figures show:-

1999 (first half)

1922 (scond half)

1023 (first half)

1923 (sond half)

No. of Applications

131 207

314

293

The apparent fall in the secord half of 1923 is not due to any real falling off of the number of applications, but to a stricter "preliminary election of applica tions by the foreign branches of the Can- cessions Committee.

No details are yet to hand as the ; exact immediate induenes of the signing of treaties upon the number of concessions, concluded, but in this connection the pro liminary report says:-

The fact that the Soviet Union has no treaty relation with this or that Power has not prevente certain capitalists or groups of capitalists belonging to such i country from making proposals for our cosions, exceedingly profitable both ta themselves and to the Soviet Union. The absence, however, of normal trading and diplomatic relations has often resulted in insuperable difficulties in the working out of various legal details, such as the pro tection of the mutual interests of each side in one another's wountry." This is shown mest strikingly in the case of Eranes, with the subjects of which it has so far been scarcely possible to concludes any agrees. ment, although some of the propositions made by them world undoubtedly be quite valuable. On the other hand. the Rap- pallo Treaty with Germany and the mura recont Russo-Danish trading agreement re- Lsulted in a great increase in the mauber- of business propositions from industrial and financial circles in Gemanny

And Dea mark."

In conclusion, the report note with satisfaction that the foreign capitalists now desiring to do business with, the Soviet Umon are firms of world-wide reptes. A can be confidently affirmed that the con quit of the Revolution the nationalian- tion of the land and of big industry, and the State monopoly of foreign trade- make it possible for the Soviet Union to safeguard the interests of the Russian workers and peasants while doing mutu ally profitable business with Western capit. alists.

1.

Replying to a question in the House of! Commons on March 4th, the Chancellor of the Exchequer announced that the Govern ment had after, careful consideration, come to the conclusion that it would he against the public interests to make the change in the law which would be necessi tated in introducing a duty on "betting.

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